Altice USA (NYSE:ATUS) PT Raised to $33.00 at Guggenheim

Altice USA (NYSE:ATUS) had its price target hoisted by Guggenheim from $32.00 to $33.00 in a research note published on Thursday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Pivotal Research reaffirmed a buy rating and issued a $40.00 price objective on shares of Altice USA in a report on Wednesday, July 31st. Citigroup lifted their price objective on shares of Altice USA from $27.00 to $32.00 and gave the company a buy rating in a report on Friday, August 23rd. Wells Fargo & Co began coverage on shares of Altice USA in a report on Tuesday, August 27th. They issued an outperform rating and a $35.00 price objective for the company. KeyCorp lifted their price objective on shares of Altice USA from $25.00 to $31.00 and gave the company an overweight rating in a report on Thursday, August 1st. Finally, Macquarie started coverage on shares of Altice USA in a research report on Wednesday, June 19th. They issued a buy rating and a $30.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $32.07.

ATUS opened at $29.34 on Thursday. Altice USA has a fifty-two week low of $14.49 and a fifty-two week high of $30.34. The company has a debt-to-equity ratio of 9.18, a quick ratio of 0.29 and a current ratio of 0.29. The company has a fifty day moving average of $28.00 and a two-hundred day moving average of $24.77. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 366.75 and a beta of 0.90.



Altice USA (NYSE:ATUS) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Altice USA had a net margin of 3.16% and a return on equity of 13.57%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Altice USA will post 0.56 earnings per share for the current year.

In related news, Director Alt S.A.R.L. Next sold 15,000,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $26.40, for a total transaction of $396,000,000.00. Following the transaction, the director now directly owns 47,369,305 shares in the company, valued at $1,250,549,652. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Olsen sold 30,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $27.03, for a total transaction of $810,900.00. The disclosure for this sale can be found here. 45.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ATUS. Bank of Montreal Can boosted its position in Altice USA by 340.9% during the first quarter. Bank of Montreal Can now owns 7,261 shares of the company’s stock worth $156,000 after acquiring an additional 5,614 shares during the last quarter. Nissay Asset Management Corp Japan ADV acquired a new position in Altice USA during the first quarter worth about $516,000. Toronto Dominion Bank acquired a new position in Altice USA during the first quarter worth about $1,263,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Altice USA during the first quarter worth about $485,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Altice USA during the first quarter worth about $26,961,000. Hedge funds and other institutional investors own 50.98% of the company’s stock.

Altice USA Company Profile

Altice USA, Inc, together with its subsidiaries, provides broadband communications and video services in the United States. The company operates in two segments, Cablevision and Cequel. It delivers broadband, pay television, telephony services, Wi-Fi hotspot access, proprietary content, and advertising services to approximately 4.9 million residential and business customers.

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Analyst Recommendations for Altice USA (NYSE:ATUS)

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